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Press Releases

Leumi Opens the First Israeli Banking Representative Office in China

David Brodet, Chairman of the Leumi Group: "The representative office has a strategic role in deepening economic ties between China and Israel"

 

Bank Leumi held a festive event on Thursday to inaugurate its new representative office in Shanghai, China. This is the first and only representative office of an Israeli bank in China, which was opened a few months ago with the aim of serving as a financial bridge between the Chinese and the Israeli economy. The representative office will assist Israeli companies currently operating in China - or that wish to penetrate the Chinese market - and Chinese companies wanting to penetrate the Israeli market or invest in Israel. The representative office is the first step towards the establishment of a full banking business branch which will serve Israeli companies operating in China.


The event took place near Leumi's offices located in the heart of the financial district of Shanghai, in the presence of Israel's Consul-General to Shanghai, Mr. Arnon Perlman, and senior executives of Bank Leumi, including Chairman of the Leumi Group, Mr. David Brodet. Taking part in the event were Leumi customers, business partners, local government officials and representatives of Chinese banks and investment houses.
 

According to Leumi Chairman, David Brodet: "Following the global economic crisis the Bank recognized a trend of enhanced shift in trade from Europe and the U.S. to the Far East, and found that more and more Israeli exporters want to enter the Chinese market. As part of Bank Leumi's 'Follow Your Customer" tradition - to be present in those places where our customers operate - the Bank's management decided to open a business representative office of Leumi in Shanghai. Alongside this, in recent years the Chinese Economy is expanding its borders and becoming a major player in more and more economies around the globe. In Israel alone, we can see today an increased involvement of Chinese companies in the fields of infrastructure, food and finance. We are proud to be the first and only Israeli bank operating today in China and I have no doubt that our representative office has a strategic role in deepening economic ties between China and Israel".

 


The representative office is headed by Mr. Eyal Shimoni, who holds an MBA degree and speaks Chinese, and who previously held a number of senior positions in the Leumi Group, most recently serving as Vice President of Strategy and Business Development at the credit card company ‘Leumi Card’.